Diversified Energy (NYSE:DEC) Trading Up 5.4% – Here’s Why

Diversified Energy Company PLC (NYSE:DEC)’s stock price traded up 5.4% during trading on Thursday . The stock traded as high as $14.33 and last traded at $14.30. Approximately 1,192,384 shares traded hands during trading, a decline of 6% from the average session volume of 1,270,049 shares. The stock had previously closed at $13.57.

Analyst Ratings Changes

Several research firms have recently weighed in on DEC. Stephens started coverage on Diversified Energy in a research report on Wednesday, April 15th. They issued an “overweight” rating and a $24.00 target price on the stock. Weiss Ratings downgraded Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Zacks Research upgraded Diversified Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 25th. Citigroup lifted their target price on shares of Diversified Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Finally, KeyCorp upped their target price on shares of Diversified Energy from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $21.83.

Diversified Energy Price Performance

The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 4.06 and a beta of -0.40. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.57. The stock’s fifty day moving average price is $14.67 and its 200-day moving average price is $14.52.

Diversified Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, August 28th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.16 annualized dividend and a yield of 8.1%. Diversified Energy’s dividend payout ratio (DPR) is 32.95%.

Hedge Funds Weigh In On Diversified Energy

Several large investors have recently modified their holdings of DEC. Royal Bank of Canada increased its position in shares of Diversified Energy by 0.5% during the 1st quarter. Royal Bank of Canada now owns 140,160 shares of the company’s stock worth $2,445,000 after purchasing an additional 748 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Diversified Energy by 8.1% in the third quarter. Quadrant Capital Group LLC now owns 11,500 shares of the company’s stock valued at $161,000 after buying an additional 863 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Diversified Energy by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,918 shares of the company’s stock valued at $377,000 after buying an additional 1,170 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Diversified Energy by 7.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 19,333 shares of the company’s stock worth $280,000 after buying an additional 1,399 shares during the period. Finally, Quarry LP increased its position in shares of Diversified Energy by 1,595.2% during the third quarter. Quarry LP now owns 2,119 shares of the company’s stock valued at $30,000 after acquiring an additional 1,994 shares during the last quarter. Institutional investors and hedge funds own 26.51% of the company’s stock.

About Diversified Energy

Diversified Energy Company PLC (NYSE: DEC) is an independent oil and natural gas producer focused on the acquisition and optimization of legacy onshore assets in the United States. The company’s portfolio spans thousands of producing wells and extensive leasehold positions across core regions such as Appalachia, the Permian Basin and the Mid-Continent. By targeting mature properties, Diversified Energy seeks to enhance long-term recovery through operational efficiencies and capital discipline.

The company’s business model centers on fee-based infrastructure and midstream services that provide stable and predictable cash flows.